Rogers Communications Ord Shs Class A T.RCI.A

New target price

[morzine]

Calling its valuation discount to peers “extremely short-sighted and unjustified, TD Securities analyst Vince Valentini upgraded Rogers Communications Inc. (RCI.B-T) to “action list buy” from “buy” with an $83 target, up from $80. The average target on the Street is $75.20.

“Fears related to senior management changes last year seem to have been greatly exaggerated. Tony Staffieri and his team have been delivering excellent operating metrics, including arguably best-in-class wireless KPIs (which is the area where investors had been most concerned about execution), for four consecutive quarters,” he said.

“The main reason why RCI.B has been weak recently (down 30 per cent since Q1/22 results) seems to be deal delays and uncertainty (to be clear, we do not expect any meaningful lasting impact from the outage).”